Maximums, Minimums & Outliers in a Data Set

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• 0:04 Finding Maximums,…
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Lesson Transcript
Instructor: Cathryn Jackson

Cat has taught a variety of subjects, including communications, mathematics, and technology. Cat has a master's degree in education and is currently working on her Ph.D.

When analyzing data sets, the first thing to identify is the maximums, minimums, and outliers. This lesson will help you learn how to identify these important items.

Finding Maximums, Minimums & Outliers

Bob, of Bob's Used Cars, is looking at the car sales for the past year. He wants to create a promotional sale during the slowest car sales month. He also wants to see if there are any other months that stand out in sales.

A good way for Bob to analyze his car sales data is to identify the minimum, maximum and outliers in the data set. Take a look at the data set that Bob put together for the year of car sales. This is the data set we will be working with to find the maximum, minimum and outlier.

The maximum value in the data set is the largest mathematical value in the data set. The minimum value in the data set is the smallest mathematical value in the data set. An outlier is a value that is much larger or smaller than the other values in a data set, or a value that lies outside the given data set.

First, we need to order the data from least to greatest value, like this:

10, 19, 20, 21, 22, 22, 23, 24, 24, 25, 26, 26.

The minimum value is 10 in this data set, as it is the smallest number. The maximum value is 26, as it is the largest number. Now take a look at both the minimum and maximum values. You'll notice that with the maximum value we have two 26s, and then the numbers descend by 1, down to 25, 24, 23 and so on. Therefore, the maximum value is not an outlier, because the number 26 is not significantly larger than the other numbers near it in the data set.

However, you may notice that with the minimum value, the data set jumps from 10 to 19. There is a difference of 9 between the two values, which is greater than any other difference in the numbers in the data set. Therefore, we can identify 10 as both the minimum value and as the outlier.

It is important to note here that your outlier will always be either your minimum or maximum value; you cannot have an outlier that is in the middle of the data set.

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